Peregrine Pharmaceuticals (PPHM) Releases Earnings Results, Misses Expectations By $-0.02 EPS

Peregrine Pharmaceuticals (PPHM) reported quarterly earnings results on Thursday, Jul-14-2016. The company reported $-0.05 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.03. The company posted revenue of $18.78 million in the period, compared to analysts expectations of $15.80 million. The company’s revenue was up 101.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.

Peregrine Pharmaceuticals closed down -0.023 points or -5.58% at $0.389 with 7,92,164 shares getting traded on Wednesday. Post opening the session at $0.42, the shares hit an intraday low of $0.387 and an intraday high of $0.4201 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Peregrine Pharmaceuticals Inc. is a biopharmaceutical company with a portfolio of monoclonal antibodies in clinical trials for the treatment and diagnosis of cancer. The Company has two platforms and is pursuing multiple clinical programs in cancer with its lead immunotherapy candidate bavituximab its phosphatidylserine (PS) targeting agent PGN65 and its brain cancer therapy Cotara. Bavituximab is the Company’s therapeutic PS-targeting antibody. PGN650 is its PS-targeting imaging agent. The Company is evaluating the bavituximab investigator-sponsored trials (IST) in front-line HER2-negative metastatic breast cancer liver cancer rectal adenocarcinoma and advanced melanoma. It is also evaluating PGN650 imaging in multiple solid tumor types. The Company`s Impavido biomanufacturing subsidiary Avid Bioservices Inc. provides commercial and clinical manufacturing services for the Company and third-party clients.

Peregrine Pharmaceuticals

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